MILANO – Yes orthopedic sandals of Hesse to Barbie’s favorite shoes in film by Greta GerwigBirkenstock – which is a global brand lands – on Wall Street with a valuation of 8.64 billion and illustrious companies such asto the Agache financial company, from the Arnault family of LVMH, or the Norwegian pension fund.
Two years ago the private equity that today accompanies the company on the stock exchange, L Cattertonhad spent 4 billion to take over the company founded in 1774 from the heirs of the family of the same name from which it derives its name. But for one of the largest IPOs of 2023 (there were only 71 this year), Birkenstock chose Wall Street because the German brand’s first market is the United States, where among Crocs, Ugg Boots, Nike, Converse and sneakers of all types, comfortable footwear alternates and mixes perfectly with the stilettos of the generation of Sex and the City.
The price was set at 46 dollars, or in the middle of the range, between 44 and 49 initial dollars, and as far as it is concerned (8.64 billion in fact) it is lower than the initial forecasts which went up to a valuation of 10 billion dollars.
(afp)
Birkenstock will be the third largest stock on Wall Street this year, and the ticker of company will be “BIRK”. The company has already raised around 1.5 billion in capital placement.
The fortune and widespread diffusion of Birkestonck starts from a simple concept: on one flexible sole, comfortable and orthopedic, made of natural materialsa world of models, colors and leathers which winks at fashion and takes inspiration from travel.
The first model, that of the simple slipper, is called Madrid, others will follow such as Milan, Boston, Zermatt, all of which recall renowned locations in the world from jars in cork, leather or fur slippers, to the point of even betraying the origins with plastic and taking back that market share stolen by the rise of Crocs. In the film, Barbie chooses an Arizona modelinstead of heels, and sales of the emulation model increased by 110%.
Birkenstock is preparing to land on Wall Street with an offer of up to 33.26 million shares by Economics Editorial Staff 02 October 2023
Birkenstock has been back for nine months (in June) with 1.1 billion euros in revenues (+21% per year) and profits of 103 million (-20%). The Last year the company sold 30 million pairs of sandals, and for the whole of 2023 the estimates are for a double-digit increase in revenues.
2023-10-12 02:04:52
#Birkenstock #fair #price #sandals #billion
